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During President X’s term, the Republic signed a USD 75 million foreign loan with Bank Omega to finance a nationwide digital connectivity program. The loan agreement and a separate irrevocable guarantee by the Republic were executed by the President in his official capacity. There was no Senate concurrence and no enabling law authorizing the loan. The funds were disbursed and Bank Omega now seeks payment. Answer the following:
(a) Identify the controlling doctrine governing contracting or guaranteeing foreign loans and whether Senate concurrence or enabling law is required.
(b) Apply the doctrine to these facts: is the loan contract and the guarantee binding on the Republic? Can Bank Omega enforce payment against the Republic?
(c) If, after the fact, the Senate passes a concurrent resolution concurring in the loan or a law authorizing it, what is the effect on the existing contract and guarantee?